电子元器件行业周报：台积电预期AI营收翻倍增长，国补刺激国内消费电子需求增长

Investment Rating - The report maintains an "Outperform" rating for the industry [1] Core Insights - TSMC's Q4 2024 performance shows significant year-on-year growth, with expectations for AI-related revenue to double in 2025 [3] - The implementation of new subsidy policies is expected to significantly boost domestic demand for consumer electronics [3] - TV panel prices are on the rise, while storage prices are experiencing divergence [3] - The electronic industry is seeing a gradual recovery in demand, with specific recommendations for various companies based on their market positions [3] Summary by Sections TSMC Performance and AI Revenue - TSMC reported Q4 2024 revenue of NT$868.46 billion, a year-on-year increase of 38.8$500 per item [3] - Following the subsidy announcement, smartphone sales increased by 200%, tablets by 300%, and smart children's watches by 100% [3] Market Trends in Panels and Storage - The average price of 65-inch TV panels increased by 0.6% in January, with expectations for further price hikes across various sizes [3] - Storage prices have shown a downward trend in most application markets, except for AI servers, indicating a supply-demand imbalance [3] Investment Recommendations - The report suggests focusing on companies like Huaqin Technology, Nanchip Technology, and others for potential recovery in consumer electronics [3] - It also highlights the semiconductor industry's improving conditions, recommending companies like Zhongjing Technology and Huahong Semiconductor for investment [3]